Avoid these operators, warns FSB

The Financial Services Board (FSB) advises you to act with caution when dealing with AK Dollar Traders. The firm is not authorised in terms of the Financial Advisory and Intermediary Services (FAIS) Act to render financial advice and intermediary services.

The FSB says consumers have complained that their money invested with AK Dollar Traders has not been paid back and they have not received promised returns on their investments.

• The FSB also warns against dealing with Invest Acquired Holdings (IAH) – also not authorised to render financial services. The entity purports to be an authorised financial services provider, but the registration number it is using belongs to Pal Life, an authorised provider, who says it does not have any relation with IAH.

To check if a financial provider is registered, call the FSB’s toll free number (0800 110 443) or go to its website, fsb.co.za